China was looking to boost agricultural exports to India while increasing imports of rapeseed and soymeal, President Xi Jinping told Indian Prime Minister Narendra Modi on the sidelines of a G20 meeting.
When the CSO introduces new weights, it recalculates the previous five years’ figures, but goes no further.
The BJP is under fire for the release of new historical GDP figures that significantly downgraded growth during the years the opposition Congress party was in power.
India, the world's second-biggest gold consumer after China, imports about 900 tonnes of gold a year.
India's GDP growth fell to a worse-than-expected 7.1 percent in July-September, lowest in three quarters.
The NDA government is taking money from Reserve Bank of India to give to corporates, Mallikarjun Kharge alleged.
Pandey, a 1984-batch Maharashtra cadre officer, took over as the Revenue Secretary to the Government of India upon superannuation of Hasmukh Adhia.
Pandey said his priority as the Revenue Secretary would be to increase tax compliance, stabilise the implementation of GST, bring transparency and simplification of laws and procedures for better tax administration and ease of business.
Speaking to reporters here after meeting the Finance Minister, Sharma said that state-owned Life Insurance Corporation (LIC) recorded a surplus of Rs 48,444 crore during the the last fiscal 2017-18.
The government data released Friday shows India's economy grew at 7.1 per cent in July-September, lowest in three quarters.
The government has budgeted to cut fiscal deficit to 3.3 per cent of GDP in 2018-19 from 3.53 per cent in the previous financial year.
India's GDP grew at 7.1% for the Sept quarter, losing momentum from the June quarter when it grew at a 8.2%.
India’s infrastructure sector growth slowed to 4.2 per cent in August hit by a decline in crude oil and fertiliser production and sluggish performance of coal, steel, refinery products and natural gas sectors.
The agreement between India and the Hong Kong Special Administrative Region (HKSAR) of People's Republic of China for the Avoidance of Double Taxation has become operational
The Abu Dhabi Investment Authority has agreed to setup a first of its kind country desk for India.
His description of demonetisation as a "draconian" step in his book is a divergence from his earlier description.
Often-revised gross domestic product numbers don’t mean much to punters. Indices of volatility do.
"In the last two days, the minister separately met global pension funds, sovereign wealth funds and other large funds from Australia, Canada, Singapore, Korea, Japan, Norway and the European Union and the US. All are looking at India for good investment opportunities," the government official added.
This is the sixth time that IGST funds have been divided between the centre and states.
India is the founding member of Kimberley Process Certification Scheme and is actively involved in KP activities to ensure that almost 99 per cent of the diamond trade in the world is conflict free.
Arvind Subramanian says he realises that in making this suggestion he is up against all the eminent current and former RBI officials, who argue that the RBI actually needs all the capital it has, but they are wrong.
Rajiv Kumar, vice-chairman of NITI Aayog, has rejected charges of data manipulation and said the revised GDP numbers were released after close scrutiny by country’s 10 leading statisticians.
Going by the furore following the release of the GDP data for the period 2005-06 to 2011-12 by the CSO, there is no consensus in sight even today on how to measure the GDP.
Prime Minister Modi’s administration has been struggling to fulfill one of his key campaign pledge — creating 10 million jobs a year.
Indian traders have exported goods worth Rs 3.75 crore during the 13th edition of bilateral trade between Indian and China at Nathula border in Sikkim this year, officials said Friday.
Lenders get fresh tax notices for free of cost services offered to customers with minimum balance.
Jaitley said Chidambaram had welcomed revised numbers for last 2 years of UPA govt in 2015, when CSO changed method to calculate GDP.
HDFC Bank said though the back-series does not show any directional change compared to the old series.
Government likely to seek review of CCB’s role as it’s as powerful as central bank’s board.
It can be noted that government has repeatedly complained about lack of liquidity and sought special interventions from RBI in the run-up to a crucial meet of the central board last week.
Remarks come days after Union minister Nitin Gadkari blamed the Reserve Bank for "complicating" project finance and asked the central bank to aid infrastructure creation.
The current account balance and central fiscal deficit, as percentages of GDP, are projected at -2.3 per cent and 3.2 per cent respectively.
Defending the revision in GDP growth rates for most of the 10-year UPA rule, Sanjeev Sanyal, Principal Economic Adviser in the Ministry of Finance, said the basis for the revision was use of internationally accepted standards.
The eligible exporters will be able to avail rupee export credit from banks at 5 percent lower, compared to the earlier 3 percent, the RBI said.
RBI also relaxed the minimum hedging period requirement for originating NNFCs. It also relaxed minimum holding period requirement for loan wit 5-year maturity.
R K Singh asserted that the target of 100 per cent electrification would be achieved by December 31.
Subramanian calls upon RBI to step up its abilities in two key areas of supervision and part with its mammoth reserves to recapitalise the ailing state-run lenders in a decisive manner.
The Central Board of Direct Taxes (CBDT), as per the directive, said it received "several" representations by field officials of the I-T Department in 'limited scrutiny' cases .
In January 2015, the government moved to a new base year of 2011-12 from the earlier 2004-05 for national accounts. The base year of national accounts had been revised earlier in January 2010.
Uday Kotak said that if the ball is adjudged by the umpire as being outside the line, there is a huge reputation risk which a company is exposed to because of the judgements of the 24x7 media.
A top source in the government said the controversy could have been avoided by keeping out the Niti Aayog from the announcement press conference.
He also expressed displeasure at politicisation of release of back-series GDP data Wednesday at a joint press conference addressed by him and Chief Statistician Pravin Srivastava.
With months to go before the next general election, the opposition Congress Party was predictably incensed that the new series downgraded its stewardship of the economy between fiscal 2006 and 2014.
"UPA had welcomed CSO decision when it revised FY13, FY14 GDP growth upwards. Same yardstick has been applied by CSO while revising growth downwards," the finance minister said.
Listing out the necessity for setting up such a federal body, Jaitley said the states and Centre both spend on healthcare and have their respective schemes.
The Uttar Pradesh government has eased e-procurement norms of paddy from small and marginal farmers, allowing them to sell up to 100 quintals of the commodity without verification of crop and land details.
PM Modi had announced interest subsidy for two categories of middle income groups (MIGs) in urban areas with annual income of up to Rs 18 lakh
The decision was part of discussions between India's commerce ministry and a six-member Chinese delegation on easing market access for exports of various farm products, the ministry said.
Data on Nov. 30 will probably show gross domestic product grew 7.5 percent in the July-September quarter from a year ago, down from 8.2 percent in the previous three months.
For the survey on every scheme, the sample size would be of 1,000 people per district over 500 districts, said a government official.
